Any municipality may acquire a project site by gift, purchase, lease, or condemnation, and may transfer any project site to a corporation by sale, lease, or gift. Such transfer may be authorized by a resolution of the governing body of the municipality without submission of the question to the voters, and without regard to the requirements, restrictions, limitations or other provisions contained in any other general, special or local law. Such project site may be within or without the municipality or partially within and partially without the municipality.
Structure 2021 Tennessee Code
Title 7 - Consolidated Governments and Local Governmental Functions and Entities
Chapter 53 - Industrial Development Corporations
§ 7-53-301. Board of Directors
§ 7-53-306. Municipal Liability — Submission to Voters — Remedies of Bondholders
§ 7-53-309. Bonds as Legal Investments and Lawful Security
§ 7-53-310. Acquisition and Transfer of Project Sites
§ 7-53-311. Lease or Lease-Purchase Agreement With Municipality Authorized — Tax Levy
§ 7-53-315. Authority for Municipality to Aid or Provide Assistance for Certain Projects